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Mr. Francis-Timore, a tax consultant, is unsurprised by the country’s high tax levels. He also believes that COVID-19 has exposed the weaknesses in the Ghanaian economy.
As per his statement, every country in the world is expected to maintain a tax-to-GDP ratio of at least 15%. However, the Ghanaian economy is currently struggling to even pay the salaries of its police force. Mr. Timore has also commented on the issue of VAT, as organized labour threatens to go on a nationwide strike. He disclosed that the government has never enforced certain parts of the VAT law that require VAT payment on household consumption, while excluding certain industries, from 1998 to 2023.
Mr. Timore challenged the timing of the VAT tax implementation, which was regulated on household consumption policies by the IMF. He argued that the Government should have engaged in more consultation before implementing the VAT charges.
“I think the Government should have done a lot of engagement before coming up with the VAT. from 1998, Why now he asked?”
Adoanews.com
